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Use the black point (plus symbol) to denote the equilibrium price of one ton of melons and the equilibrium quantity of melons in Burundi without

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Use the black point (plus symbol) to denote the equilibrium price of one ton of melons and the equilibrium quantity of melons in Burundi without international trade. Next, use the green triangle (triangle symbol) to shade in the area that represents consumer surplus in equilibrium. Finally, use the purple triangle (diamond symbol) to shade in the area that represents producer surplus in equilibrium. 540 Domestic Demand Domestic Supply 520 Equilibrium without Trade 500 130 460 Consumer Surplus 440 PRICE ( Dollars per ton) 420 Producer Surplus 400 380 40 80 120 160 200 240 280 320 380 400 QUANTITY (Tons of melons) Based on the information from the previous graph, absent international trade total surplus is |S The following graph shows the same domestic supply and demand curves for melons in Burundi. Now, suppose that the Burundian government changes its stance on international trade, deciding to allow free trade in melons. The horizontal black line ( PW) represents the world price of melons at $500 per ton. Assume that Burundi's entry into the world market for melons has no effect on the world price and there are no transportation or transaction costs associated with international trade in melons. Also assume that domestic suppliers will satisfy domestic demand as much as possible before any exporting or importing takes place. Use the green triangle (triangle symbol) to shade in the area representing consumer surplus, and then use the purple triangle (diamond symbol) to shade in the area representing producer surplus

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